Someone with a lot of money to spend has taken a bearish stance on Dick's Sporting Goods DKS.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with DKS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 20 options trades for Dick's Sporting Goods.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, 19 are puts, for a total amount of $1,196,094, and there was 1 call, for a total amount of $39,600.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $160.0 for Dick's Sporting Goods over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Dick's Sporting Goods options trades today is 231.0 with a total volume of 1,526.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Dick's Sporting Goods's big money trades within a strike price range of $100.0 to $160.0 over the last 30 days.
Dick's Sporting Goods Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|
DKS | PUT | SWEEP | BEARISH | 09/30/22 | $110.00 | $388.7K | 689 | 600 |
DKS | PUT | TRADE | BEARISH | 09/30/22 | $113.00 | $80.0K | 161 | 0 |
DKS | PUT | TRADE | BULLISH | 01/20/23 | $160.00 | $62.3K | 42 | 28 |
DKS | PUT | TRADE | BEARISH | 01/20/23 | $160.00 | $56.7K | 42 | 19 |
DKS | PUT | TRADE | NEUTRAL | 09/30/22 | $115.00 | $53.5K | 94 | 51 |
Where Is Dick's Sporting Goods Standing Right Now?
- With a volume of 3,849,177, the price of DKS is down -5.77% at $106.43.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 53 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Dick's Sporting Goods, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.